Reviews and analysis of
Occidental Petroleum Corp (OXY) reveal an overall positive outlook. Despite a delay in the
CrownRock deal, a boost in Permian Basin production has been observed. Operational cost-cutting is projected to yield more profit in the future, though the recent Q1 earnings surpassed estimates while revenues lagged. The market's interest in OXY remains high. According to the Q1 2024 Earnings Call, the company started strongly with robust cash flow. Institutional investors favor the corporation, with 53% ownership of shares. Notably, despite a decrease of US$3.0b in the past week, shareholders are up by 141%. In Q1 2024, the
adjusted EPS aligned with analyst projections. The company's market performance shows it rising even with the market dipping. Even though the company's profits have been slumping, a recovery is reportedly on the horizon. Berkshire Hathaway boosted its stake in the company to about 28%, signaling trust in the company's future. Finally, the company is exploring the sale of Permian assets worth over $1B.
Occidental Petroleum Corporation OXY News Analytics from Mon, 11 Dec 2023 08:00:00 GMT to Fri, 10 May 2024 11:37:19 GMT -
Rating 7
- Innovation 5
- Information 8
- Rumor -4
